Blaming Flex Schedules, Austin’s 3M Office to Sublease 200K SF
In what has been a continuing theme in Austin, 3M Co. has placed 204,000 square feet of North Austin office space on the sublease market. Meta, TikTok and Workrise Technologies have all placed office space on the Austin sublease market. 3M has 12 years left on its lease.
The space, located at the Parmer Austin campus includes lab space. 3M plans to continue to occupy other space it leases at the campus. 3M’s Tim Post says the pandemic changed things, “3M’s offices were built when working on-site was the expectation for all employees. Our space needs have changed as we’ve moved to a flexible work model with fewer employees working on site. 3M remains committed to Austin.”
3M reported having 349 employees in Austin at year. end. At one time the Austin facility had 500 workers. The company has laid off 2,500 workers and says it might up that number to 6,000.